Depreciation on commercial vehicle
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 July 2012
I am a industrial goods supplier, can i purchase a truck commercial vehicle and get depreciation 50% as per notification 10/2009 dt 19.1.2009 or what are the present rates?
CA PARAS BAFNA
(Expert)
25 July 2012
The rate of 50% was applicable upto 31.03.2009.
.
Present rate is 30%.
.
You can purchase a truck for your own business purpose.
.
If you run it for earning hire charges, you may separately be taxed U/s 44AE, in respect of the business of plying, hiring or leasing of goods carriages @ Rs 5000/ per month.
.
.
Present rate is 30%.
.
You can purchase a truck for your own business purpose.
.
If you run it for earning hire charges, you may separately be taxed U/s 44AE, in respect of the business of plying, hiring or leasing of goods carriages @ Rs 5000/ per month.
.
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